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1  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2019, 10:51:50 AM
CZ...you said safu?   Huh


apparently the hot wallet at Binance lost 7k corn...ouch.

Glad that they don't want a BTC rollback... Undecided

That would be ******.

A consensuses for such a rollback would be madness. Every stupid fuck could demand a rollback for a lost wallet if they would allow it in this case.

Indeed, I doubt that they would have been able to if they tried. This further illustrates the necessity of further distribution of the hash power and why centralisation is a bad thing when it comes to BTC.
I would be happier if we had further diversification in the hash power.


What CZ@Binance wants,  or when miners want to fork, doesn't matter. They are free to do as they wish.
UASF & 2X was the watershed, when the power was ultimately confirmed to be in the hands of the holders.



2  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 26, 2019, 07:39:46 PM
"if we measure the dominance of $BTC by the volume of transactions instead of the market capitalization, Bitcoin still has more than 80% market dominance"
https://twitter.com/coinbarber/status/1110621862390837250/photo/1


You really need a like-for-like comparison, which positions BTC at currently 100% of the non-shitcoin market.
3  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 12, 2019, 01:12:56 PM
If a party decides to censor you simply try an alternative route
How will they control ALL the lightning nodes, anyone can start a node.

I already answered that.  Lightning nodes are NOT invisible.  Nor are football stadium sized mining facilities.  If you think a professional money laundering enterprise - that's what freelance lightning nodes will be known by to the govt -  are somehow immune to govt regulation when they can easily come knock on your door, you're out of your mind:

Anything that has an easily identifiable physical or digital surface attack vector will be enveloped by the current system.  Claiming you're going to run a wildcat Lightning node is like claiming you're going to be some type freelance illegal porn distributor and the FBI is not going to kick in your door.

Yes lightning Nodes are not invisible,  but when you receive a lightning TX and you forward-it on to another node, you have no idea where it is ultimately going too, and where it has ultimately come from. You only know the next hop in the chain forwards and backwards which is insufficient to meaningfully censor.

If my node is being refused a channel to a 'hub' I simply open a channel to another node which connects to the 'hub' and all is well. You can't force everyone to censor.
4  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 12, 2019, 12:45:12 PM
There's too much to explain about why it's complete garbage, but just one example in particular involves transaction validator nodes.  In the base bitcoin model this is going to be the miners and the miners are required to compete in terms of economic soundness and efficiency in their operation.  Since the state is the bankers, they can then implement huge red tape and regulation, killing off any 'hobby' miners or really any competitors in general except themselves.

So it's pretty easy for the banks to completely control bitcoin already as is with blacklists and everything else, turning into a complete dystopia, but they do have at least some small inconveniences in their way.  With Lightning Network, there IS NO hashing for them to do, they can simply regulate everyone else out of existence with red tape, then they control ALL Lightning router nodes and collect their vampiric usury fees off every transaction with no skin in the game.  In other words, there's ZERO difference between that and current banking.  Banks collect infinite interest by taking a cut of every transaction with no skin in the game and own the planet.

How can you censor a transaction when you don't know the parties involved.
If a party decides to censor you simply try an alternative route
How will they control ALL the lightning nodes, anyone can start a node.
'Regulate out of existence' like they regulated out of existence Bittorrent !
Lightning doesn't  break Bitcoin's fixed supply.

None of your arguments hold water, try harder!

5  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 12, 2019, 12:36:48 PM

Shamir's Secret Splitting
https://iancoleman.io/shamir/

I would't enter my passphrase in any online form or on any computer that had internet access.


For sure:
1) Download from Github to a usb stick,
2) Transfer to an offline machine and run it and use values.
3) Wipe machine

My mistake, I forgot to mention it because it was obvious to me. But of course your keys and seeds should NEVER be on an internet connected machine (thats currently on the internet, or later connects to the internet)
6  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 12, 2019, 12:16:09 PM
How do you secure your security seed? Honest question

Cryptosteel or similar, stored in a safe
https://cryptosteel.com/

and/or

Shamirs Secret Splitting
https://iancoleman.io/shamir/

7  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 12, 2019, 07:26:53 AM
This is what I use:
https://imgflip.com/i/2qxztc

Yeah, cost me $3718.

In fact nearly $20k at one point...

Here is what I use:



Cost me a few satoshis and I've been saving my bitcoins on it since last year. I don't see the point of hardware wallets if you are in bitcoin to hodl them.

To spend them actively i would still use my iphone for the job insead of hw wallets since I would carry my wealth in a paper wallet and my play money on my phone. But most importantly, it is just easier with a phone.

To me money spent on hw wallets is a waste. I would buy more crypto instead.

It's really all about the value of the amount you are storing, and therefore the risk.

Paper wallet is fine for smaller amounts, but...
- Where do you store the paper wallet safely
- What happens if you are burgled and the thief steals the wallet (wether or not they know what to do with it)
- Where do you store a backup, (and increase the risk of compromise)?
- What happens if your house burns down?
- Something gets spilt on the wallet and obscures the ink.
- 3 Years later, and you've simply lost the wallet, or thrown it out accidentally.
- When you spend the wallet and enter the address into a computer, are you 100% sure that computer is totally free from trojans/viruses, an attacker could   steal the funds on the happy day when you cash-out.

These risks are small (ish) but if you had $100k or $100m, they would be much more important.

A paper wallet requires multiple diverse location copies, but each copy increases the risk of theft, and you need to trust someone else to look after other copies (family?)
So you can securely split the secret (Shamir's secret splitting https://iancoleman.io/shamir/) , you can then choose how many parts of the total eg. 2 of 3 are needed to reconstruct the private key,
Then split it - 1 copy with a good friend or your lawyer, 1 with a family member, and 1 in your safe.
As its 2 of 3, 1 person can lose their key and its not a problem, and both the family member and friend need to collude to steal you coins.
You could of course increase this from 2 of 3 to any value such as 4 of 7, whatever makes sense to you.

When you come to spend the paper wallet, you should use a clean machine, install a new version of the OS ,and then only the wallet software.
I wouldn't use brand new software releases and I would check the authenticity of the code using release signing keys or hashes.

If you really want to do it properly, you should probably read Glacier protocol https://glacierprotocol.org/, it discusses all the risks and possible solutions, you can then cherry pick the things you think are important to you.

You want to also factor in your own death to the scheme. Making sure 'your' people know about, and can actually  get possession of the coins without you.

8  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 13, 2018, 08:17:47 PM
That's a very short bear you have there.

well, 2015 was a flat for almost 8mo (after Jan plunge).
I don't mind us transitioning to such a flat right here.
Re 500K, I just don't know.

McAfee?

Should he start looking at recipes?


http://www.grouprecipes.com/59411/penis-stew.html

Must remember to remove the scum
9  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 02, 2018, 11:25:39 PM
It’s all a conspiracy to get your coins. HODLers will be rewarded.

https://twitter.com/Xentagz/status/1069305418453790720
10  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 29, 2018, 06:29:22 PM
https://www.coindesk.com/bitcoin-mining-giant-holds-flash-sale-to-celebrate-price-bottom
Bitcoin mining firm Canaan Creative has revealed it is temporarily cutting prices across all of its crypto mining devices.
As part of its “flash sale” starting today, all of the company’s miners – from the Avalon 921 (20 terahashes per second) to the Avalon 851 (14.5 TH/s) – are all [sic] available at $200 each.

hmmmm

Is that cheap? Is it worth it? I haven't mined since the Antminer S3, maybe I should give it another go for the lulz.

P.S.: It basically says in its own page that it is unprofitable to mine with it. And... 1700Watts? That would be a very expensive PSU that I don't have. Think I'll pass on the offer.
Yeah I have stayed away from mining Sha for quite some time, it's too aggressive on difficulty and the equipment is all Enterprise style (loud as fuck fans over standard 110v power draw) GPU mining is even getting cut out more and more by fpga and I want to dip my toes in fpga but the up front cost is too damn high.

A quick calc on https://whattomine.com/asic

20Tera Hashes @ 1700W
Electricity @ $0.1/kWh

This generates $3.39 on Bitcoin mining, with an overall profit of -$0.69 / day.

I guess it may be a cheap way to heat your greenhouse in the winter, but not much else.






11  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 23, 2018, 08:06:58 PM

An English one.
https://btcmanager.com/burning-long-term-holders-bitcoin-castle-marks-beginning-new-era/
12  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 21, 2018, 10:42:44 PM
So, does anybody know why adamstgBit left?

Let me guess, he pulled a DeathandTaxes, MnW or cypherdoc type scam and left?  That’s usually how the old guard chooses to leave.
Who is MnW?
DeathandTaxes' scam thoroughly disappointed me.  He was such an insightful guy, one of the smartest and most knowledgeable posters around imho.  I thought he came across as a standup guy, but clearly my judgement of him was very flawed.

Matthew N Wright - made a bet with half of the forum for a shitload of money because he was duped by Trendon Shavers into causing a distraction from the fact his Ponzi was about to fail. He may have been paid to do it but we’ll never know for sure. He wasn’t banned for that but because he constantly kept calling theymos out over various shit.

DeathandTaxes was the real mystery. Highly respected knowledgeable member that decided he didn’t want to be here anymore so he ripped people off and left. You’re judgment of him wasn’t wrong. He was a standup guy for a long time - until he wasn’t. That’s why “trust” systems don’t work. It’s very possible to build up trust for a couple of years, get a bunch of deals in place and run with the money.

Same with Tradefortress, made a big deal over calling out scammers and trying very hard at building up trust with people.
He started an investment site, where people could invest in Bitcoin startups, but then he did a runner with 3.5K coins.

https://bitcointalk.org/index.php?action=profile;u=67058
13  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 19, 2018, 02:43:15 PM
Oh... FFS, now I'm making so little on my Shitcoin mining,  I'll have to close the window in winter.
14  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 17, 2018, 09:47:01 AM
SV Cash catching up fast to ABC Cash

Catching up, or even overtaking the block count means nothing, as the difficulties between chains are now different, the only figure that matters is the total proof of work at the tip of each chain.

https://forkmonitor.info/nodes/bch
You can see & monitor that here under 'Accumulated log2(PoW)':


https://cash.coin.dance/blocks/hashrate
But probably a better way to view  how far ABC are ahead is represented by the area between the orange & red lines on this graph. SV need to exceed the Hash power of ABC for a sustained time before they have the longest chain (ie there is new area created with red above orange, that is bigger than red below orange area) , and even then, they will not re-org ABC because of the checkpoints inserting into the code,  that manually select which fork the ABC Node software will follow. Craig's dreams that there will only be one chain will remain a dream.


https://bitcoin.stackexchange.com/questions/81115/if-someone-wanted-to-pretend-to-be-satoshi-by-posting-a-fake-signature-to-defrau
The latest message signature from Craig Wright via his 'Satoshi' twitter account is debunked by Greg Maxwell here. TLDR: A crypto trick that needs careful analysis by a crypto expert to spot,  very similar to the one a few years back that was using a signature pulled out of the block chain.
15  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 16, 2018, 02:21:36 PM
This shitshow has given us a new opportunity to correctly name the forks.
Previously, we have been unable to drop the Bitcoin part of their names, because it simply left 'cash' which is of course ambiguous.

I guess its obvious but, we can now correctly relegate them to the proper Altcoin categorisation by using:

ABC Cash
SV Cash
16  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 14, 2018, 07:45:23 PM
Hmm. I had been hoping for a kumbaya moment. But now that it seems clear that ABC will the minority fork -- to the point where it becomes an economic non-factor -- I am happy for split to occur. I quite prefer the structure of SV over ABC. What with it being essentially 'the original bitcoin minus some coding errors'.

So SV adopts the mantle of The Real BCH as a stepping stone to eventually becoming The Real Bitcoin. Cool. I can live with that.

You must be happy having someone as wise & talented as CSW dictating the direction.

https://www.youtube.com/watch?v=WNSq5wYdwb0&feature=youtu.be&t=43

We need someone to make them agree!!
17  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 13, 2018, 04:18:03 PM


Lol, everyone has to walk on egg shells, they don't want to upset him, and have him storm out in a hissy fit.
But that game ensures he is never really challenged and retains the power in the discussion.

If Craig forces-in SV and BCH is the last currency on earth I won't use it, and will do all I can to help destroy it!


Crush. Kill. Destroy!  Wait... wrong trope. I meant to say, We only wish to raise quality of life for all species.

WooHoo!! thanks
18  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 13, 2018, 03:40:17 PM


Lol, everyone has to walk on egg shells, they don't want to upset him, and have him storm out in a hissy fit.
But that game ensures he is never really challenged and retains the power in the discussion.

If Craig forces-in SV and BCH is the last currency on earth I won't use it, and will do all I can to help destroy it!

19  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 10, 2018, 11:09:13 PM
Disclaimer:   I don’t want to give the impression that I care about bcash because I really don’t.  

That said, I don’t see how Craig can win.  Jihan controls more hashpower.  That means Jihan can 51% attack SV at any time. For Craig to 51% attack ABC, he would have to remove almost all his hashing power from SV, leaving SV undefended.  That just doesn’t seem sustainable.  Maybe I am missing something. 

I think you are right Jihan has way more hash available,but I think Craig has no intention of splitting the chain, if it splits and he can’t re-org away the incompatible blocks he is going to ignore his side of the chain and continue attacking the ABC side even if he destroys all confidence, he wants to kill ABC at all costs.
20  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 10, 2018, 08:56:21 PM
I thought I'd spread a little of the opinions and information I've gathered over the last few days about the BCH split.

CSW doesn't want a fork, he currently controls over 51% of the hash on BCH, and if unchanged this would allow him to prevent a fork and not allow any of his opponent's blocks to form a chain.
CSW claims they have enough resources to do this for 2 years, and will do this no matter what the price on exchanges. This is really scaring the shit out of Roger and Jihan.

On the other hand Jihan controls/influences a shit ton of hash on BTC, which he can switch over to BCH if he wants to fight. If this is the case the war could go on for a long time, depleting both of their funds (through unrecouped electricity costs, because no doubt mining will be very unprofitable, more so, if the price crashes).

CSW has laid his cards on the table, and it's pretty clear he intends to fight, but Roger & Jihan have been hostile in response, but I'm not aware of what their strategy will be.

The war may also involve code based attacks on each software implementation, devs may not have hash power but they are inventive enough to exploit weaknesses in each others code.

As a BTC maximalist I want the war to go on for a long time resulting in less cash reserves for both money both Jiahn and CSW. Although the risk to BTC is well over the horizon at the moment, it is no doubt the destruction of BTC that is in both their long games, and whoever wins this hash war will be embolden to collect financial partners/investors (state sponsored?) and eventually turn on BTC.

Profit? At this pumped up fork price, I think the only direction for the price is downwards.
Unless one of them capitulates which I don't think is very likely, their will be many large  re-orgs and a major loss in confidence by BCH's holders and users,  exchanges won't allow trading until things settle down, but how long could that be?


Interesting Sources:
Vin Armani http://didyouknowcrypto.com/hash-wars/ - this guy still wrongly believes hash power is king, but it's an interesting listen.
CSW with Tone Vays https://www.youtube.com/watch?v=ACEUOCoVvmw
Roger https://www.youtube.com/watch?v=rFU1o-0oU7A


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